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Preston offers no financial hope for Ojibwa

April 14, 2015 | 2

Elgin-Middlesex-London MP Joe Preston offered beleaguered Bayham no relief from the huge financial burden the municipality has been left with over HMCS Ojibwa.

He and MPP Jeff Yurek answered questions during a St. Thomas and District Chamber of Commerce luncheon in St. Thomas, Wednesday, April 8.

MP Preston provided no hint of any potential financial relief, now that the museum has defaulted on $6-million borrowed from a bank for the project and guaranteed by Bayham. Township residents face a 10 percent property tax hike to repay that loan.

“It will be the taxpayers of Bayham who pay that bill if the submarine is not a success,” he said.

 

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  • Agatha Wolf

    They didn’t asked us if we wanted it, so I think we should not have to pay for it.

  • Patricia Huber

    I had understood the EMM would have to liquidate
    their assets before Bayham tax payers would
    be on the hook.
    What happened to that idea?
    I would also like to know why the Periscope is
    not with the submarine? To me, that would
    be the best part of the experience as well
    as the Sonar sound.
    I hope new management is brought in with
    marketing experience and imagination!